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AAX Another Centralized Crypto Exchange Down

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After AAX started the announcement of an upgrade to fix a glitch in its system and halted withdrawals from its platform. This glitch was observed by their technical team after the FTX downfall and withdrawals was shut down immediately for security reasons.

AAX stated in a press release where they were facing so much pressure regarding their capital position and as such will need to raise new capital in order to resume its services, assuring its users that they are working tirelessly to secure more funding for the company.

The vice president for global marketing and communications of the AAX exchange announced his resignation from his position at the cryptocurrency exchange weeks after the company began to restrict withdrawals.

Ben Caselin revealed the reasons for his decision to leave the company and his position at the cryptocurrency exchange in a thread on Twitter. Caselin claims that despite his efforts to advocate for the community, the ideas they came up with were rejected.

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According to the Nigeria manager David Effiong who is no longer the manger for AAX exchange Nigeria as of today, in his recent LinkedIn post apologizing for the current state of things with AAX and how that he can no longer have access to the team anymore in which their working emails have been logged out of their working system.

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